Business Docs
_____ is given for cash payment to show evidence of payment.
Receipt
When a customer decides to place an order with a supplier, he/she may place the order in writing in a letter or by using an _____ _____.
Order Form
A written order directing a bank to pay money as instructed.
A cheque (check)
A document sent from a bank or financial institute guarantees that a seller will receive a buyer's payment on time and for the full amount.
Letter of Credit
What is the part of an email that lets the reader know what the email is about?
Subject Line
This bill is sent by the supplier to the purchaser immediately after goods have been dispatched.
Invoice
The manufacturer, on receiving the letter of inquiry from a potential customer, would forward the catalog and price list requested, together with a _______ ______.
Covering Letter
A seller may require a _____ ______ when they have no relationship with the buyer.
Bank Draft
Who has the advantage when paying with trade credit?
The Buyer
"Dear Miss Maria" or "Good evening Mr. Nick" are examples of _________?
Professional Salutations
An invoice is sent to a buyer when payment is required by the seller in advance.
Proforma Invoice
At the end of the accounting period, the accounting department would send a _______ showing the total indebtedness, or amount owing.
Statement
A written order used primarily in international trade binds one party to pay a fixed sum of money to another party on demand or at a predetermined date.
Bill of Exchange
The following are all what? - Cheque, Bank Draft, Documentary Credit, Trade Credit, Bill of Exchange, Letter of Credit
Methods of Payment
____ means getting the most that you can for your money; Careful planning, saving, and spending.
Money Management
A businessman writes a _______ of ________, requesting information about the type and class of goods required and asking for a quotation or price list.
Letter of Inquiry
It is used to add amounts to the original invoice.
Debit Note
Very similar to a letter of credit, and facilitates international payment transactions.
Documentary Credit
A business-to-business (B2B) agreement in which a customer can purchase goods on an account without paying cash upfront, paying the supplier at a later scheduled date.
Trade Credit
This type of advertising is clearly designed to entice a potential customer to purchase a good or service using a variety of psychological devices.
Persuasive Advertising
A reduction in the catalog price of an article, given by the manufacturer or the wholesaler to the retailer, to enable him to make a profit.
Trade Discount
If the supplier makes a mistake, it will send a _____ _____ to correct their error.
Credit Note
What is the first step in the process of paying with a letter of credit?
The Importer applies to their bank for a letter of credit
Banks collect a fee for issuing which two methods of payment?
Letter of Credit and Bank Draft
____ exists when one industry is dependent on another industry’s output as an input to its own.
Industrial Linkage